Written by: Rose Burnett, Executive Contributor
Executive Contributors at Brainz Magazine are handpicked and invited to contribute because of their knowledge and valuable insight within their area of expertise.
Heard all the buzz about NFTs and want to create and sell your own NFTs? Learning about cryptocurrency, crypto wallets and then finding the right NFT Marketplace to sell your NFTs can feel a bit complicated, but it’s not.
You don't have to know anything about cryptocurrency to start selling NFTs except the basics. Being creative certainly helps!
I started out exactly like you as a complete NFT Newbie, so I can certainly share some pitfalls to watch out for and things that worked to promote my NFT's.
What Are NFTs?
NFT’s are non-fungible tokens for digital assets stored on the Blockchain. They are usually photos, images, music, videos, or audio assets.
Artists mint their original art as NFT’s on the Ethereum blockchain, which is available for purchase with cryptocurrency (ETH). Each token is unique and powered by a smart contract that is only available through you as the owner. This scarcity allows the NFT asset grows in value over time.
The NFT market is booming with investors, companies and celebrities investing in NFT tokens as their value steadily trends upwards. NFT investment grew from $100 million in 2020 to $21 billion in 2021. Bids and transactions for NFTs take place on marketplaces like OpenSea, Rarible and more.
If you are a Creator NFTs may be a great avenue for you to explore!
In this article, we are going to look at how to successfully set up your first NFT Collection for sale.
Top 10 Tips to Sell Your NFTs
1 – Have a Basic Idea of what you want to create as NFT Collection (photos, images, music, videos, or audio assets). Then figure out what you need to do to turn it into an appealing NFT Artwork. I found a couple of cool apps that use AI to help me digitalize my original existing artwork and photography into sellable NFTs.
2 – Create Your First NFT Samples ready to Mint on the Blockchain. I created one collection first and uploaded them and then experimented with my second NFT Collection vixen 3d which has wider appeal (it’s a learning curve).
3 – Set up a Compatible Crypto Wallet to connect with your NFT Marketplace of choice. I did a little research and discovered Opensea.io was the most popular NFT Marketplace. You might also like to try Rarible, there are many more. My advice is to choose one and I will tell you why down below! If you already have a crypto wallet – great! There are options for connecting several types of crypto wallets. I didn't have one and chose Trust Wallet because it easily connects with OpenSea using WalletConnect.
WalletConnect is a tool that sits inside your crypto wallet in 'Settings' and is an interface that connects your wallet to decentralized web applications, like OpenSea NFT marketplace.
*Note – With the Trust Wallet you will need another crypto wallet to transfer your ETH (Ethereum) to withdraw funds to your bank account when you make an NFT sale. If you are in Australia, the CoinSpot crypto wallet is excellent, I signed up for that one. Super easy to use to deposit into your crypto wallet and sell your ETH and withdraw funds in Australian Dollars (AUD) back into your bank account. It only took 5-10 minutes to transfer my ETH between wallets, sell it, and convert into AUD, then withdraw and receive those funds in my bank acccount. The CoinSpot team are quick to answer any questions you have via live chat and email.
Just beware that every time you move ETH or cryptocurrency out of your crypto wallet (even wallet to wallet) you will pay gas fees on the blockchain. And more fees will be charged when the funds hit your bank account.
4 – Deposit $400AU or equivalent in USD in Ethereum (ETH) into your crypto wallet. You are going to need this for the gas fees to mint your first NFT Collection on the Blockchain. You will get charged a small gas fee when you first set up your OpenSea.io account and a gas fee when you mint your first NFT on the Blockchain.
Every NFT you mint after this on the same NFT Marketplace is gas-free (no charges). The price of the gas fee will depend on the market value of Ethereum at the time. Make sure to set your local currency in 'Settings' in your crypto wallet, so you understand the conversion rates of ETH to USD, AUD, or other currency.
5 – Open your OpenSea.io Account and connect your crypto wallet. Then set up your profile and brand it with images and media from your NFT collection and connect your social media accounts. OpenSea will sent approval requests to your crypto wallet on your phone to authorise your account, and each time you log on, mint an NFT, or set it to 'sell'. So have your crypto wallet open and connected when making changes to your account or NFT collections, for faster approvals.
6 – Create your First Collection and Start Adding your NFTs – in OpenSea create your first collection and add a logo, featured image, banner image, and name your collection (something short and catchy is good). Make sure to customise your URL, add a description, and choose a category for your NFTs to display in the marketplace. Add your social media links and choose how you want your category items to display on the front end.
Your wallet address where your NFT's will be minted and sell on the blockchain, will auto-populate. Next set the Royalty fee you will earn every time your NFT is resold (up to 10% on OpenSea.io). You can add a collaborator (Second Person) to the collection if you want. They will share in the royalties if you do. Then submit your changes and you are now ready to add your NFTs.
Adding your Individual NFTs – click 'Create' to add your first NFT or click the ‘Add’ button on the collection. To set up your NFT add an Image, Video, Audio, or 3D Model (File types supported are JPG, PNG, GIF, SVG, MP4, WEBM, MP3, WAV, OGG, GLB, GLTF. Max size: 100 MB).
Name your NFT, give it a description, add an external link to your website if you have one that provides more information. Choose the collection you want to add the NFT to and this will mint the NFT into your crypto wallet in that collection. In your Crypto Wallet you will have a tab for Tokens and NFTs, where you can see all your minted NFTs.
Next, add any unique properties, and unlockable content for the buyer when they purchase it. For example, you may want to give them access to the original file via a download link. For my NFTs, I set up DropBox to provide Original HD Image file downloads with a unique link for buyers. This can add more buyer appeal for purchasing your NFTs.
When you click create, OpenSea (or the NFT Marketplace you are using) will run through approval steps to mint your NFT on the blockchain as it connects to your crypto wallet. Make sure to click OK on the approval notifications as they come through to your crypto wallet.
On the first minting, you're charged with the gas fee, it will display as ETH and the value in your nominated currency. Once you accept, all the NFTs you create after that including new collections will be gas free.
If you switch platforms, you will need to pay another gas fee for any NFTs you create on that platform. And if you promote the same collections on more than one NFT Marketplace platform, you will have to split any future royalties over those platforms. This is where it gets tricky, so it's best to stick to one platform.
7 – Set up a Simple Website to Promote Your NFT's – this way buyers can click a link on your NFT and get more information about your NFT's, Collections, and you as the Creator. Plus, it gives you more web presence to promote your NFTs in search engine results, run free and paid promotions, and link your website to your social media channels.
8 – Set Your NFTs to SELL – now you are ready to list your NFTs for sale on OpenSea or your preferred marketplace. Make sure all the NFT details are correct, and your Unlockable Content is added.
Then click 'SELL' you have a choice of fixed price or auction (7 Days), set your starting bid price or fixed sale price in ETH. You can also set a reserve price that must be reached for the NFT to sell. Once you click submit, you're asked to approve the action in your connected crypto wallet.
Key Selling Tips – Be mindful of how high you set the starting bid price. With my first collection after I had added multiple NFTs it set a Floor Price for my collection, so after that I couldn't set a starting bid lower than the floor price. I could only change them once the auction had finished.
You can lower your starting bid during the auction by hitting the Lower Price button on the NFT, if the price is higher than the floor price. I am still experimenting with my NFT Collections to find the best listing prices. Note, if you cancel a NFT listing, you will be charged a gas fee.
9 – Geting Ready to Promote Your NFT's – Best social media channels to promote your NFTs are TikTok, Instagram, Facebook business page and Twitter. If you already have existing channels with followers, use those! I was totally new to TikTok but it has a large NFT fanbase.
Create short videos to promote your NFTs, I find that around 20-24 seconds is the perfect video length on TikTok. My first videos got around 550 views. And you can publish your TikTok videos straight to Instagram, and then to Facebook from IG, so no doubling up
Video Tips – A cool app you can use to create short videos from your NFT images with animation, effects and royalty free music is Fotoplay (available in IOS and Android). Word of warning – if you want to use them on YouTube stories, mute the music track and add royalty free ones you know are safe for YouTube. First one I loaded got a Copyright Warning for the music track, so I deleted it instantly. For professional looking videos with more effects, I use Wondershare Filmora. You can create videos of any length and profiles for different platforms. There is huge interest on YouTube about NFTs, particularly how to videos so make sure to consider YouTube as a platform to promote your NFTs.
10 – List your NFTdrop on NFT Calendar – okay newbies NFTdrop means when your NFT Collection is released and live. Another buzz word to learn! Make sure to list your NFTdrop for free on NFT Calendar, there is also a paid option if you want to skip the queue.
You should have your website set up first because you can link it in your NFT Calendar listing. Plus verifying your listing requires you to add their logo to your website, linked to your listing URL. You can also add your Discord Server link, which I will happily admit I had no idea what that was. It is a platform where you can create your own NFT Community, share your NFTDrops, and follow established NFT Communities.
Now you are ready to get promoting and selling your NFTs!
Disclaimer: I am not affiliated in any way with the apps, platforms, crypto wallet, or service providers mentioned in this article, nor do I earn any affiliate commissions. Reviews are purely based on my own experiences.
For more info, follow me on Facebook, Instagram, YouTube, LinkedIn and visit my website!
Rose Burnett, Executive Contributor Brainz Magazine Rose Burnett is a Certified Rose Burnett is a Certified Transformational Coach, NLP Practitioner and Advanced Reiki Practitioner. Rose specializes in Mind Body Soul Balance with a keen interest in fitness, healthy natural eating, mind-body-soul connection, and spirituality. Founder of Warrior Spirit Activewear, a collection of vibrant gym wear for women and fitness blog. Rose also works as a Change Management Consultant helping people and teams successfully navigate through organisational and technology change.
